Crypto industry executives share with Cointelegraph what they expect for the now $200 billion stablecoin market next year.
Ethereum layer-2 networks now lock over $13.5 billion in stablecoins, driving total market capitalization to $205 billion.
The banking giant is building a rollup on Ethereum using Matter Labs' ZKsync technology.
The team had originally planned for Ink to go live in early 2025, so the launch of the main network is ahead of schedule.
The Ethereum co-founder also proposed changes to ease transfers among layer-2 scaling networks.
Taiko Labs co-founder Daniel Wang first wanted to make an “unstoppable” social network and found his way to an Ethereum “based rollup” in the process.
The new Linea Association, a Swiss nonprofit dedicated to advancing Linea, will oversee development on its path to decentralization.
StarkWare, the main developer firm behind Starknet, had shared in July that it would introduce a proposal for staking on the blockchain, but had not previously fixed the date of the rollout.
According to the team, the confirmation layer will be a critical piece of infrastructure for composability among layer-2 rollups, allowing for two networks to read and trust each other's blocks of transaction data.
Nansen aims to pave the way for more efficient decision-making in the Bitcoin layer 2s empowered by the deeper insights its data and analytics provide
By supporting Bitlayer, Nansen plans to build the foundation for deeper BTC L2 insights and more efficient decision-making.
Namechain, as the layer-2 blockcain is called, will use a zero-knowledge rollup for scaling and is likely to go live around the end of 2025.
Eclipse raised more than $50 million from investors but has been marred by controversy over the past year.
One of the biggest trends of 2023 among the leading layer-2 projects on Ethereum was the emergence of “blockchain in a box,” where the teams encouraged developers to clone their code to spin up new layer 2s. Now, it appears, one project in particular, Optimism, appears to be pulling away as the clear leader.
Franklin Templeton says this is the first tokenized money fund to launch on Coinbase's layer-2 network.
BOB's aim is to create bridges between itself and layer-1 blockchains like Ethereum, with the ultimate goal of making Bitcoin the center of DeFi. Its decision adds to the critical mass of blockchain developers choosing to build on Optimism's OP Stack.
Crypto exchange Kraken announced last week that it will build a layer-2 network atop Optimism's OP Stack blockchain framework. CoinDesk is first to report that the deal was reached early this year, involving a grant of 25 million OP tokens, at the time worth roughly $100 million.
Chainlink's service is an integral part of many major blockchains but has not featured on Bitcoin until now.
The disclosure comes nearly a year after CoinDesk broke the news that Kraken was considering its own layer-2 network, following the runaway success enjoyed by Base after it launched in mid-2023.
Base will implement fault proofs on the mainnet twice as fast as Optimism, which took about six months to upgrade the system from testnet to mainnet.
After more than a year of hype and expectation, layer-2 network Scroll's governance token launch is beginning to fall short of expectations after being plagued by token allocation issues.
The company raised $210 million in debt financing less than a month after launching a security token offering in Europe.
Base, the Ethereum layer-2 scaling solution from crypto exchange Coinbase, has witnessed a surge in activity in the past two months and is now gunning for the top spot in the Ethereum ecosystem. Related Reading: CZ Drops Major AI Warning: What Binance’s Founder Wants You To Know In an interesting development revealed by data from […]
The news is in line with the ongoing trend that's hit the Ethereum scaling world since the end of 2023: giant and familiar crypto exchanges launching their own layer-2 networks.
According to the latest Binance Research report, the Ethereum (ETH) issuance rate continued to rise in September 2024, raising concerns about the digital asset’s “ultrasound money” claim. Ethereum Issuance Rate Continues To Surge In its October 2024 Monthly Market Insights report, Binance Research highlighted that the ETH issuance rate continued its ascent in September, moving away from its previously deflationary status. Related Reading: Is Ethereum Primed For Surge? Analyst Reveals Key Levels to Watch For A $8,100 Rally The second largest digital asset by reported market cap had a 30-day annualized inflation rate of approximately 0.74%, a level not observed in the last two years. The sharp uptick in ETH supply inflation has questioned its “ultrasound money” positioning. Interestingly, the term “ultrasound money” draws inspiration from Bitcoin’s (BTC) “sound money” narrative. While BTC’s supply is capped at 21 million, ETH’s supply can become deflationary, theoretically increasing scarcity and protecting it from inflation-driven erosion of purchasing power. Ethereum’s high issuance rate could be attributed to several factors, including low mainnet on-chain activity, leading to a low transaction fee and, consequently, lower ETH burn rates. In 2021, Ethereum core developers implemented EIP-1559, which introduced a fee-burning mechanism that aimed to reduce ETH’s circulating supply, thereby creating deflationary pressure on the token. However, with declining mainnet activity, the amount of ETH being burned is lagging behind the ETH issuance rate, leading to a net inflationary trend. Notably, September 2024 experienced one of the lowest ETH burn rates since the highly anticipated Merge event, when Ethereum transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. Ethereum Layer-2 Solutions To Blame For Low ETH Burn Rate? The report points to March 2024 as the starting point of Ethereum’s inflationary trend, following the implementation of EIP-4844 or the Dencun upgrade, which reduced transaction costs on layer-2 scaling platforms such as Optimism (OP), Arbitrum (ARB), Base, and Polygon (MATIC). The report adds: As L2s cannibalized network activity throughout the year – further impacted by broader market conditions – transaction fees and, consequently, burned fees on Ethereum declined, with September recording one of the lowest levels since the Merge. This has prevented ETH from decreasing in supply to remain deflationary, leading to the net positive daily supply changes we now see. Recent trends corroborate the assertion above, as network activity on layer-2 solutions grows across different metrics. For instance, a report in July 2024 noted that daily active addresses and transaction volume on Polygon had soared significantly. Related Reading: Ethereum Solo Staking Made Easier? Vitalik Buterin Supports Lower Entry Requirements Similarly, decentralized finance (DeFi) activity on Arbitrum increased earlier this year when decentralized exchange (DEX) Uniswap surpassed $150 billion in total swap volume on the network. Another report found that over 48% of digital assets bridged from the Ethereum network end up on Arbitrum, indicating users’ high trust in the layer-2 network’s robust security and reliability. ETH trades at $2,385 at press time, up 1.7% in the past 24 hours. Featured image from Unsplash, charts from Binance Research and Tradingview.com
For investors, ETH’s future depends on how Ethereum balances innovation with maintaining healthy economic policy, says Matthew Kimmel, digital asset analyst, CoinShares.
Vitalik Buterin noted that Celo’s second L2 testnet, Alfajores, will be upgraded to Ethereum L2 on Sept. 26.
Ethereum (ETH) is not the best solution for payments, according to PayPal’s Vice President of Blockchain, Crypto, and Digital Currencies (BCDC) unit, Jose Fernandez da Ponte. Ethereum Falls Short For Payment Purposes Speaking at the Solana Breakpoint 2024 conference, Ponte brought attention to Ethereum’s inability to handle a high volume of transactions as a key […]